RGS Energy Closes $3.5 Million Net Financing

Pubblicato su 02 mar 2015
RGS Energy 
RGS Energy has completed the previously announced public offering of 7 million units consisting of its Class A common stock and Series A, B, C, D and E common stock warrants at a price of $0.50 per unit. WestPark Capital, Inc. acted as the exclusive placement agent in the offering.

The net proceeds to RGS Energy from the public offering is approximately $2.75 million, after deducting placement agent expenses, legal fees and other estimated offering expenses. In addition, participants exercised a portion of the Series B warrants, providing additional net proceeds of $800,000 to the company.

"This financing immediately strengthens our financial position by $3.5 million and provides the right, subject to certain conditions, to execute our ‘put option' on the Series B warrants in the future for additional capital of over $7 million," noted Dennis Lacey, CEO of RGS Energy. "As recently reported, we made progress with our cash management last quarter and this financing allows us to work with our vendors and other installation partners to convert our $55 million backlog into revenue and cash."


source: RGS Energy
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RGS Energy (Installatori di Pannelli Solari): https://it.enfsolar.com/rgs-energy
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